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NewsTranscript
00:00 As labor market tightness has eased and progress on inflation has continued, the risks to achieving
00:05 our employment and inflation goals are coming into better balance.
00:10 We believe that our policy rate is likely at its peak for this tightening cycle and
00:15 that if the economy evolves broadly as expected, it will likely be appropriate to begin dialing
00:20 back policy restraint at some point this year.
00:25 The economic outlook is uncertain, however, and we remain highly attentive to inflation risks.
00:31 We are prepared to maintain the current target range for the federal funds rate for longer,
00:35 if appropriate.
00:36 [Music]